Author: Tamas Blummer 2014-03-14 14:14:15
Published on: 2014-03-14T14:14:15+00:00
The debate about the use of mBTC or μBTC in Bitcoin has been ongoing since 2013. While some argue that mBTC is more user-friendly and easier to understand, others believe that the use of μBTC would allow for greater precision and flexibility. However, Andreas Schildbach, creator of Bitcoin Wallet, believes that users are not concerned with the denomination used but instead focus on the amount in their local currency. This sentiment is echoed by Tamas Blummer, CEO of Bits of Proof, who suggests that Bitcoin needs prices and fractions that mirror traditional currencies to be perceived as a currency of its own. Blummer argues that denominations like 3.558 mBTC or 0.003578 BTC are difficult to interpret, whereas 3558 bits would be much more easily accepted. The discussion continues among developers and users alike, with some wallets offering various denomination options to cater to different preferences.
Updated on: 2023-06-07T20:45:37.278539+00:00